There are sure means by which you can prosper in real estate investing and Russ Whitney can teach you how. If you want to gain profit, you really have to abide by the principle of “buy low and sell high”. No businessman in his right mind would want to sell his real estate at a loss and if you follow the aforementioned viewpoint, you will be able to maximize your profit. The right skills combined with intelligence, wise decision making and hard work will boost your success potentials. High ROI or return on your investment should always be your main goal and never depart from it.

Russ Whitney wants to share his business experience and how he was able to minimize his costs and other expenses, thereby, increasing his income at an abrupt pace. Whitney shares that one way by which you can cut down on your expenditure is by doing the repairs on the property on your own. First, you have to jot down all the repairs that need to be done. Second, make an estimate of the costs and check if you have the expertise and the skill to do the renovation. If it is just plain painting and simple repairs, it is advised that you do it yourself because hiring a repair man or a painter is additional cost which you are trying to avoid.

Take note however, that Russ Whitney do not advise you to bargain with the quality of the work which needs to be done on the property. You should also protect your image and if you think that you are not capable of restoring the property or at least make the repairs well, you should make the right step of hiring somebody who will do the repairs. There are a lot of professionals who are always on the lookout for such work but if you have a friend whose expertise is home renovation you should ask his first. Friends usually charge you less for every work done as compared to strangers.

Russ Whitney explains that it is always a must for you to have standby cash just in case your capital gets depleted. You should always remember that purchasing a real estate property can be very costly at times especially if you still have to do a lot of repairs to bring said property in a saleable condition. If you do not have the right amount of investment capital to pay for the price and repairs, you should widen your horizon and look for possible financial sources like loans. Although it is true that loans would mean you have to pay additional interests which usually have to be paid on a monthly basis, this should be your last option.

As much as possible, you should try to maximize your resources and avoid loans with interests if you can. However, if the availing of a loan is inevitable, you should avoid going to big banks because they charge high interest rates. Russ Whitney says that there are a lot of small banks which cater to the needs of small-time entrepreneurs and these financial institutions usually charge lower rates.

Author Bio: Are you looking for more information regarding Russ Whitney? Visit http://www.nytimes.com/2007/03/18/realestate/keymagazine/318RUSS.t.html today!

Category: Real Estate
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